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Elected on 9th May, Jim Aiken, FCA, assumes office as the 81st President of the Institute of Chartered Accountants in Ireland. While the profession has seen many changes since the foundation of the ICAI in 1888, honesty and integrity remain the bedrock upon which it is founded and professionalism will be a key theme during Mr Aiken’s year in office. In the course of a wide-ranging interview, he shared his views on this and other issues with Accountancy Ireland. The symbol at the end of this article indicates that you can listen to the interview on our June podcast.

You’ve identified professionalism and integrity as key themes of your Presidency. Why are you focusing on this?

I believe that, at a time when members of our profession are facing increased pressures arising from the economic environment and the broad range of challenges that we have to meet each day, we must at all times remember that the qualities of honesty, integrity and high professional and ethical standards are the very bedrock on which our profession is built. It is something which I believe differentiates us from other professions and I believe that these are qualities that we must demonstrate at all times regardless of the circumstances we find ourselves in and the pressures that we might be under. As President, this year I would want to remind members that these attributes have been universal throughout our long existence and are every bit as applicable in the year 2008 as they were in 1888 when we were formed.

The Institute is currently working to grow the number of students entering the profession through the training in industry route. As a former Chairman of the Education & Training division of the Institute, what do you think of this initiative?

This was one of the very important recommendations of the Institute’s Strategic Review Group and clearly, as a member of that group, I am supportive of that proposal. In terms of the relevance of this to our profession, I think there are a number of different factors to consider: Firstly, we are in competition with other professional bodies, some of whom appear to offer more accessible routes of entry to the profession than ours, so it is imperative that we are able to match these and that we continue to be competitive in the marketplace. I believe that concerns that this might lead to a dilution of our core product will prove to be unfounded provided we take appropriate steps to ensure that the necessary supports are in place for members training through the business route. Over time, in terms of the final product, I believe it will be impossible to differentiate between a member who qualified through the practice route and a member who qualified through the business route.

There is also more emphasis on Lifelong Learning for Chartered Accountants. What is your view of the developments that are taking place in this area?

It is a matter of the Institute having to move with the times. We have to recognise that we have members with a wide range of backgrounds, in practice, in business, in the public sector, in the voluntary and community sector and in academia. In many ways this reflects the complexity of the society in which we live.

Increasingly, specialisation is a fact of life and it is appropriate, in terms of offering lifelong support to our members, that we continue to evolve training and development which recognises the need for specialism. I am very supportive of the very wide range of diplomas and other courses that we have made available and I look forward to seeing the roll out of more post-qualification diplomas in the future.

What other services to members would you like to see develop under your Presidency?

We are in the process of analysing the results of a recent survey amongst our members and, while in general terms there is a high level of contentment with the services that the Institute provides, it is very clear that there is still significant scope for improvement. We have to listen to what members are telling us about their needs and expectations from the Institute and as far as possible take all reasonable steps to ensure that we meet those needs. I am very committed to the principle of serving the needs of our members. I am not in any way complacent about the progress we have made to date and I recognise the need for further improvement. That is a view that is shared by the Council of the Institute.

Over the last couple of years we have seen the ICAI seeking a higher profile in representing members’ interests – not least in the recent campaign on the Varney report in Northern Ireland. How do you think this work is being received?

The role that the Institute has played in the Varney report and the campaign for a 12.5% rate of corporation tax has delivered both positive and negative effects from the Institute’s point of view.

The positive impact is that it demonstrated our willingness to go public on an important issue. It has raised the profile of the Institute and in particular the work carried out by those who are involved in the taxation side of the Institute.

On the other hand, recent pronouncements following the publication of Varney II and the Investment Conference (which was held in early May) have not produced the positive outcomes that we would have wished for, although I don’t believe that has made the campaign any less important or credit worthy. Indeed if we felt there was merit in taking up that particular campaign again we would, and should, do so. Your question raises the wider issue of the Institute’s role in political and public representation. This is an area that I have given some thought to and is a matter that has been discussed at Council particularly in the context of our decision to support the ‘Yes’ vote in the referendum on the Lisbon Treaty in the Republic of Ireland.

I believe that we have an obligation to act as an increasingly effective and respected voice and lobby on behalf of business and indeed of society at large. Our position – not only as a pro-business organisation but also as an organisation whose members play a very significant role in the economic activity of this island, north and south – confers on us both a right and an obligation to make representations where we feel it is appropriate. I would also add that we are in a unique position, as an all- Ireland body that has been in existence since 1888, to facilitate and support the new political dispensation on this island, which is very much welcomed by the Council of the Institute and which we believe we should do everything possible to build upon.

Finally, on a personal note, what are you most looking forward to in the coming year?

I am looking forward first and foremost to having the opportunity to meet our members. I am conscious of the fact that we tend to focus on the greater Dublin and greater Belfast areas and I have become increasingly aware that our members, who are spread much further afield both in Ireland and beyond, do wish to engage with the Institute and want to believe that their interests are being acknowledged and responded to. So, one of the things I hope to do is to take whatever opportunity I can to engage with those members in the wider area.

I’m also looking forward to the representation and social events. This will put a continuing strain on my family and I very much acknowledge the support that they have given me heretofore. I know that I can count on their continued support in the year ahead.